Tzahi Abu expands in the South: 38.4 million shekel shopping center deal
Ari Nadlan, controlled by Tzahi Abu, is acquiring 65% of Tana Commercial Centers for 38.4 million shekels, a sum that includes the repayment of owner loans.
Ari Nadlan, controlled by businessman and CEO Tzahi Abu, continues to expand its portfolio of income-generating assets with a new deal in Ashdod. As part of the agreement, Ari Nadlan is acquiring 65% of the share capital of Tana Commercial Centers Ltd. for approximately 19 million shekels. In addition, the company will provide 19.4 million shekels for the full repayment of owner loans in Tana.
Tana holds the rights to the new "To Do Center" shopping mall, which recently opened in Ashdod's 16th district. The center is situated on a 5,000-square-meter plot and features 5,500 square meters of commercial space across three levels, alongside parking, common areas, and 3,000 square meters of unused building rights.
Upon completion, this mall will become the fourth active income-generating asset for Ari Nadlan, which is also currently developing the Star Eilat mall. The transaction is subject to conditions precedent, including approvals from Bank Leumi and the Competition Commissioner. The deal was facilitated by attorneys Teri Almozlino-Arnon and Alon Volner of the Barnea, Jaffa, Lande & Co. law firm.
